Insurance; Oklahoma Captive Insurance Company Act; protected cell; conversion; sponsored captive insurance company; legal action; effective date.

Summary

The bill amends the Oklahoma Captive Insurance Company Act to define and regulate protected cells, allow their conversion, and tighten oversight of sponsored captive insurers. It requires the Insurance Commissioner to disclose information, set response deadlines, and impose fines or license actions for non‑compliance. The changes affect all captive insurers operating in Oklahoma, their owners, and any entities that use protected‑cell structures.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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